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50p Tax band for high earners - good idea or not?


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What about the spending power of the poor being reduced by the Tories?You're not bothered about that. What about people losing their jobs because of the cuts? You're not bothered about that.

 

All of which would have still happened even without the top rate tax cut, cutting tax's help to stimulate the economy and create jobs, jobs that the poor people need.

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Taxation is not meant to make people pay for the proportion of services they use as a proportion of their salary. People with kids don't pay more because they get more out of schools. Ill people don't pay more because they use hospitals more.

 

---------- Post added 26-01-2014 at 19:48 ----------

 

 

Co-incidentally I use that principle about you, angos, MrSmith, et al.

 

I know how taxation works but thanks for the illuminating examples you give - they were amusing and I'll show them to my grandchildren when I have them. I think somebody that earns 150k a year; and pays ~ 50k pa in tax has more than made their contribution to the country's running. We should ask them for more.

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You're not to know but I have and I still got 60p a week. I'm middle management as well so what did the lower grades get? Not a lot! Public sector doesn't pay well to start with but 60p a week is a joke - except it;s nowhere remotely funny

 

The public sector pay over £50 billion pounds over what would be paid for similar roles in the private sector.

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It was still a reduction in the income of the poorest.

 

NO. It was trying to fill council houses with the right sized family for that property. Why should someone pay their rates/council tax/other taxes to subsidise someone in a house too big for them? I think they should be called bed - blockers.

 

The wealthy that so many on here seem to dislike/be jealous of, are the one that pay in the taxes that they pay for others to do their scrounging/receive housing benefit/JLS DLA? etc. They also pay for hospitals and roads and trains and just about everything the Govt does to help the poor. You should be very grateful

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I don't feel sorry for them. I've just put the figures into a take home pay calculator. A person earning 20k a year pays 2.1k in tax annually. A person earning 150k pays 49.9k in tax. I set the parameters at 6% pension payment and tax code 954l. The higher earner pays 25 times more tax but in all likelihood doesn't receive 25 times more public services. They pay more in real terms already. Paying more in % terms too just seems to be screwing them even more. I'm an average wage earner, by the way.

 

No one likes paying taxes - I don't at basic rate and definitely wouldn't at 40, 45 or 50%.

 

As an average wage earner I don't think that we will be exempt from Labour tax and NI increases.

 

After all they were the party that removed the 10% tax rate and increased employees National Insurance rates from around 10% in 1997 to around 12.8% in 2010.

 

As stated in previous posts most of those earning large sums are quite easily able to quite legally avoid the 50% tax rate without any fear of comeback from HMRC.

 

The average earners amongst us are usually taxed under PAYE which offers little scope from reducing tax and leaves us as an easy target when Government think about raising taxes.

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The wealthy that so many on here seem to dislike/be jealous of, are the one that pay in the taxes that they pay for others to do their scrounging/receive housing benefit/JLS DLA? etc. They also pay for hospitals and roads and trains and just about everything the Govt does to help the poor. You should be very grateful

 

Many of them also employ people who are so poorly paid that they have to claim in-work benefits.

 

Making a special class of super rich, indirect benefit scroungers. I'm not grateful to them.

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Many of them also employ people who are so poorly paid that they have to claim in-work benefits.

 

Making a special class of super rich, indirect benefit scroungers. I'm not grateful to them.

 

So you are suggesting they shouldn't employ anyone? Then these people will be totally dependent on benefits? Short sighted thinking

 

---------- Post added 26-01-2014 at 20:18 ----------

 

Many of them also employ people who are so poorly paid that they have to claim in-work benefits.

 

Making a special class of super rich, indirect benefit scroungers. I'm not grateful to them.

 

You obviously are bitter and jealous.

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So you are suggesting they shouldn't employ anyone? Then these people will be totally dependent on benefits? Short sighted thinking

 

No. I'm suggesting that they should pay their employees a living wage. Then I wont have to do it for them, with my taxes.

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I'd have been happier if they'd try and cut off some of the loopholes companies with billion pound profits who don't pay any corporation tax. Not totally worried about 50% rate per se but think the 150k level, if you live in nicer parts of London, is a tad low. Maybe an additional tax band for earners over 250k?

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